Question 1

As you develop your long term personal financial plan,consideration of purchasing disability insurance and paying the premiums is very important when

Accepted Answer

A)  you are raising a family and have significant financial responsibilities. 
B)  you are nearing retirement and want to protect your net worth. 
C)  you begin collecting social security as a way to supplement your retirement income. 
D)  you begin to feel ill. 
A)  you are raising a family and have significant financial responsibilities. 
B)  you are nearing retirement and want to protect your net worth. 
C)  you begin collecting social security as a way to supplement your retirement income. 
D)  you begin to feel ill.

Question 2

The managed health care plan with the lowest premiums and also the least choice of health care providers is the ________.

Accepted Answer

The answer of The managed health care plan with the...

Question 3

Which of the following is not a true statement?

Accepted Answer

A)  More than half of all individuals in the United States will need long-term care in some period during their life. 
B)  Medicare covers most of the expenses associated with long-term care. 
C)  The cost of an aide providing basic care at home can exceed $1,000 per week. 
D)  For individuals who enter a nursing home, the cost is about $46,000 per year on average. 
A)  More than half of all individuals in the United States will need long-term care in some period during their life. 
B)  Medicare covers most of the expenses associated with long-term care. 
C)  The cost of an aide providing basic care at home can exceed $1,000 per week. 
D)  For individuals who enter a nursing home, the cost is about $46,000 per year on average.

Question 4

Private health insurance plans contain all of the following coverage,except

Accepted Answer

A)  hospital insurance. 
B)  nursing home insurance. 
C)  physician insurance. 
D)  surgical insurance. 
A)  hospital insurance. 
B)  nursing home insurance. 
C)  physician insurance. 
D)  surgical insurance.

Question 5

Medicare is a government health insurance program for those over 65 years of age who can show need for financial assistance.

Accepted Answer

A) True 
 B)False

Question 6

Because of COBRA,you can continue to remain covered by your employer's health insurance plan for no more than one year after you stop working for your employer.

Accepted Answer

A) True 
 B)False

Question 7

Health insurance policies may provide coverage for all of the following except

Accepted Answer

A)  cosmetic surgery. 
B)  rehabilitation. 
C)  mental health. 
D)  pregnancy. 
A)  cosmetic surgery. 
B)  rehabilitation. 
C)  mental health. 
D)  pregnancy.

Question 8

Certain federal regulations ensure that individuals can maintain continuous health care coverage.

Accepted Answer

A) True 
 B)False

Question 9

Beginning in 2014,health insurers will not be able to deny applicants based on pre-existing conditions.

Accepted Answer

A) True 
 B)False

Question 10

Generally,disability income policies with shorter waiting periods have lower premiums.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements regarding health insurance is not true?

Accepted Answer

A)  It limits your potential liabilities and helps you receive the necessary medical care. 
B)  Health insurance is offered by private insurance companies and the government. 
C)  There are many more options available for homeowner's insurance than for health insurance. 
D)  Blue Cross and Blue Shield is the nation's largest health care insurer. 
A)  It limits your potential liabilities and helps you receive the necessary medical care. 
B)  Health insurance is offered by private insurance companies and the government. 
C)  There are many more options available for homeowner's insurance than for health insurance. 
D)  Blue Cross and Blue Shield is the nation's largest health care insurer.

Question 12

If you are disabled and have insurance,what types of resources,including those from your present job,do you have to cover the waiting period?

Accepted Answer

Sick leave is first used to cover the wa

Question 13

In purchasing disability insurance,you should consider all of the following except the

Accepted Answer

A)  waiting period. 
B)  probationary period. 
C)  length of the benefits. 
D)  cost of the policy. 
A)  waiting period. 
B)  probationary period. 
C)  length of the benefits. 
D)  cost of the policy.

Question 14

Long-term care policies

Accepted Answer

A)  commonly have an elimination period (waiting period) of between 60 and 90 days before the policies will begin to pay. 
B)  are relatively inexpensive and are a good value for those over 60. 
C)  are never adjusted for inflation, so care must be taken to estimate future costs. 
D)  All of the above are true. 
A)  commonly have an elimination period (waiting period) of between 60 and 90 days before the policies will begin to pay. 
B)  are relatively inexpensive and are a good value for those over 60. 
C)  are never adjusted for inflation, so care must be taken to estimate future costs. 
D)  All of the above are true.

Question 15

What could happen to you if you had a serious health problem and no health insurance?

Accepted Answer

Health services are limited for those wi

Question 16

Indemnity health plans

Accepted Answer

A)  greatly restrict the choice of health care providers. 
B)  may require you to pay the doctor and then get reimbursed. 
C)  require you to get approval to see a specialist. 
D)  are the least expensive of all health care plans. 
A)  greatly restrict the choice of health care providers. 
B)  may require you to pay the doctor and then get reimbursed. 
C)  require you to get approval to see a specialist. 
D)  are the least expensive of all health care plans.

Question 17

A PPO health insurance plan allows individuals a better selection of health care providers,but is more expensive than an HMO.

Accepted Answer

A) True 
 B)False

Question 18

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70% and the patient's co-pay,as specified by the PPO,is 20 percent?

Accepted Answer

A)  $600 
B)  $700 
C)  $420 
D)  $200 
A)  $600 
B)  $700 
C)  $420 
D)  $200

Question 19

The part of Medicare that provides coverage for prescription drugs is

Accepted Answer

A)  Part A. 
B)  Part B. 
C)  Part C. 
D)  Part D. 
A)  Part A. 
B)  Part B. 
C)  Part C. 
D)  Part D.

Question 20

________ insurance serves as a backup for expenses not covered by basic health insurance.

Accepted Answer

A)  Excess hospitalization insurance 
B)  Surgical expense insurance 
C)  Major medical insurance 
D)  Physician expense insurance 
A)  Excess hospitalization insurance 
B)  Surgical expense insurance 
C)  Major medical insurance 
D)  Physician expense insurance

Exam 12: Health and Disability Insurance

As you develop your long term personal financial plan,consideration of purchasing disability insurance and paying the premiums is very important when

The managed health care plan with the lowest premiums and also the least choice of health care providers is the ________.

Which of the following is not a true statement?

Private health insurance plans contain all of the following coverage,except

Medicare is a government health insurance program for those over 65 years of age who can show need for financial assistance.

Because of COBRA,you can continue to remain covered by your employer's health insurance plan for no more than one year after you stop working for your employer.

Health insurance policies may provide coverage for all of the following except

Certain federal regulations ensure that individuals can maintain continuous health care coverage.

Beginning in 2014,health insurers will not be able to deny applicants based on pre-existing conditions.

Generally,disability income policies with shorter waiting periods have lower premiums.

Which of the following statements regarding health insurance is not true?

If you are disabled and have insurance,what types of resources,including those from your present job,do you have to cover the waiting period?

In purchasing disability insurance,you should consider all of the following except the

Long-term care policies

What could happen to you if you had a serious health problem and no health insurance?

Indemnity health plans

A PPO health insurance plan allows individuals a better selection of health care providers,but is more expensive than an HMO.

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70% and the patient's co-pay,as specified by the PPO,is 20 percent?

The part of Medicare that provides coverage for prescription drugs is

________ insurance serves as a backup for expenses not covered by basic health insurance.

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

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